Bengaluru's North-West Region: Soaring As A Secondary Business Hub, Reveals Study

Lower occupancy, accessibility, connectivity and future development opportunity is driving the growth of commercial real estate in north-west Bengaluru which includes areas of Malleshwaram, Rajajinagar, and Peenya, said a recent study by Meraqi Research. With large corporates across industry verticals including automotive, pharmaceutical, aviation, electronics, IT/ITeS etc. setting up offices in this micro-location, the area is fast growing as an emerging business district.

The study added that strong physical infrastructure, proximity to the central business district, demand for A Grade office spaces and a good residential catchment of around 27,000 units have been some of the key contributors to this growth.

(Also Read: Bengaluru Has 4 High Streets In India; Noida Sector 18, Delhi’s South Ex In Top 10)

“We undertook this study to assess the commercial growth of the north-west Bengaluru region. We have provided deep insights into the ecosystem of north-west Bengaluru and highlighted the demand supply analysis, capital value, rental appreciation, growth prospects, liveability, and future employment opportunities. In sync with the data, the micro-market will soon emerge as a secondary commercial business district,” said Ezhilarasi (Geetha), head advisory and valuation, Meraqi.

Metro rail connectivity, express way, wide roads, good drainage and connectivity to various business districts are prime reasons for growth of commercial real estate in the region.

The study added that the proposed Bangalore-Mumbai Industrial Corridor, which will pass through north-west Bengaluru will increase the growth of commercial real estate with an expected employment opportunity of around 23 million by 2041. The Namma Metro purple line extension expected to be completed by 2023 will further the prospects of the commercial real estate sector in the region.

North-west Bengaluru is emerging as a preferred micro market for commercial real estate with several integrated projects being developed. The area currently provides employment to around 5,50,000 workers with the potential to create an additional 45,000 jobs by 2025.